Thursday, 7 December 2017

Razer - Locked in Profits

Razer had a huge drop this past week. The stock dropped almost 10% with selling after more selling. Luckily for me, I sold it on the break out day when Razer had a 4% gain as I knew Razer's rebound is normally quite weak and small where I had experienced trading this counter before as every time it hits a support level, it would have a short and weak rebound where it wouldn't last long. This is a very important signal for me to sell on breakouts.

Look at my trade record from UOB Kayhian as attached above. After I sold it on the day it broke out, the stock had been spiraling downwards continuously with no stoppage. The support was weak and the buyers weren't interested in this counter at the current price levels. Could it be some big funds selling or there could be some bad news coming out soon? I don't know but from the chart wise, it's not yet turning. Although I only made like $8000 only, it's still better than holding on to losses now. I will find another turning point in chart soon.

Ronald K - A Game Changer